DETAIL KOLEKSI

Pengaruh manajemen modal kerja terhadap profitabilitas dan penilaian pasar pada industri manufaktur yang terdaftar di Bursa Efek Indonesia (BEI)


Oleh : Nicholas Trinugroho Sumeisey

Info Katalog

Penerbit : FEB - Usakti

Kota Terbit : Jakarta

Tahun Terbit : 2012

Pembimbing 1 : Anita Roosmalina Matusin

Subyek : Working Capital Management

Kata Kunci : profitability, cash conversion cycle, current asset to current liabilities ratio, current asset to

Status Posting : Published

Status : Lengkap


File Repositori
No. Nama File Hal. Link
1. 2012_TA_MJ_022060399_1.pdf
2. 2012_TA_MJ_022060399_2.pdf
3. 2012_TA_MJ_022060399_3.pdf
4. 2012_TA_MJ_022060399_4.pdf
5. 2012_TA_MJ_022060399_5.pdf
6. 2012_TA_MJ_022060399_6.pdf
7. 2012_TA_MJ_022060399_7.pdf

P Penelitian ini bertujuan untuk mengetahui pengaruh manajemen modal kerja terhadap penilaian pasar dan profitabilitas. Sampel yang digunakan dalam penelitian ini adalah industri manufaktur di Bursa Efek Indonesia (BEI) periode 2005 hingga 2009. Variabel independen dalam penelitian ini adalah cash conversion cycle, current asset to current liabilities ratio, current asset to total asset ratio, current liabilities to total asset ratio dan juga terdapat variabel kontrol yaitu debt to total asset ratio. Variabel dependennya adalah profitabilitas yang diukur dengan return on asset dan return on invested capital dan penilaian pasar yang diukur dengan Tobin Q. Dengan menggunakan uji hipotesis, maka jumlah yang menjadi sampel penelitian ini berjumlah 132 perusahaan pada industri manufaktur. Model analisis data yang digunakan adalah uji asumsi klasik, regresi linear berganda dan uji t. Berdasarkan hasil uji t maka didapatkan hasil bahwa cash conversion cycle, current asset to current liabilities ratio, current asset to total asset ratio, current liabilities to total asset ratio dan debt to total asset ratio memiliki pengaruh terhadap profitabilitas namun tidak memiliki pengaruh terhadap penilaian pasar. Hasil tersebut menunjukkan manajemen perusahaan perlu mengelola modal kerja secara efisien agar menghasilkan profitabilitas yang optimal.

T This study aims to determine the effect of working capital management on market valuation and profitability. Samples used in this study is the manufacturing industry in Indonesia Stock Exchange (BEI) in the period 2005 to 2009. Independent variables in this study is the cash conversion cycle, current assets to current liabilities ratio, current assets to total assets ratio, current liabilities to total asset ratio and also there are control variable which is debt to total assets ratio. The dependent variable is profitability measured by return on assets and return on invested capital and market valuation measured by Tobin's Q. By using the hypothesis test, then the amount of the research sample consists of 132 companies in the manufacturing industry. Model analysis of the data used is the classical assumption test, multiple linear regression and t test. Based on t test results showed that the cash conversion cycle, current assets to current liabilities ratio, current assets to total assets ratio, current liabilities to total asset ratio and debt to total assets ratio has an influence on profitability but has no effect on market valuation. These results demonstrate the company's management needs to manage working capital efficiently to generate an optimal profitability.

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